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 jbutterfield19
Joined: 17 Aug 2009
Posts: 1
1.29 Dollars($)
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 Posted: Mon Aug 17, 2009 11:42 am Post subject: I owe 89000 on a home worth about 110,000. The home is in T |
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I owe 89000 on a home worth about 110,000. The home is in Tennessee. I had to relocate to Utah, and rent this home out. Could I get a second mortgage to consolidate some bills? How much could I get?...Owe 89,000.
Home worth about 110,000. |
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Jimmymackin
Joined: 17 Aug 2009
Posts: 66
0.43 Dollars($)
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| Posted: Mon Aug 17, 2009 12:20 pm Post subject: Cash out on Investment properties |
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The simple answer is no. It far exceeds today's underwriting tolerances for cash-out refinances.
I would compare personal loans to see if that is a good fit |
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Realgeni
Joined: 13 Apr 2009
Posts: 1434
99.77 Dollars($)
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| Posted: Mon Aug 17, 2009 7:41 pm Post subject: |
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jbutterfield19
Welcoem to the forum
You need to have some equity in the house for you to take a equity loan
As of now it does not look like you will be able to get that secodn loan
Good luck and feel free to ask |
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